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Rex International Holding Ltd. ( (SG:5WH) ) has issued an announcement.
Rex International Holding has reported further significant technical issues in its ongoing drilling campaign at the Sèmè Field in Benin, meaning that production from the field will not commence in 2025 as previously expected. Drilling operations are still continuing as the operator, Akrake Petroleum Benin S.A., seeks to resolve these problems, and Rex has indicated that it will provide additional updates in due course, underscoring operational challenges that may delay anticipated output and cash flow from this key asset.
The most recent analyst rating on (SG:5WH) stock is a Hold with a S$0.16 price target. To see the full list of analyst forecasts on Rex International Holding Ltd. stock, see the SG:5WH Stock Forecast page.
More about Rex International Holding Ltd.
Rex International Holding Limited is a Singapore-incorporated oil and gas exploration and production group, with its key interests held through subsidiaries such as Lime Petroleum Holding AS. Through these entities, the company focuses on offshore upstream assets, including a majority indirect stake in the Sèmè Field in Block 1 offshore Benin, where its subsidiary Akrake Petroleum Benin S.A. is the operator under a production sharing arrangement with the Benin government.
Average Trading Volume: 9,743,733
Technical Sentiment Signal: Sell
Current Market Cap: S$174.5M
See more data about 5WH stock on TipRanks’ Stock Analysis page.